The year 2024 has seen many exciting and noteworthy developments in the cryptocurrency sector, from strong growth to major challenges amidst a complex global economic landscape. Below, we highlight the most notable points of this year.
Throughout the year, Bitcoin (BTC) has experienced significant waves with a peak price of $108,278 on December 17, before dropping to $91,800 today. Although the price of Bitcoin is at its lowest since early December, its rapid development earlier has brought substantial profits to many investors, especially when compared to a growth of over 117% since the beginning of the year.
Ether (ETH), the second-largest cryptocurrency, has also recorded a decline from its peak in December. This partly reflects investors' profit-taking sentiment as the U.S. economy faces significant volatility. The Chicago PMI index has hit its lowest level since May, raising concerns about economic health and the Federal Reserve's interest rate policy.
Additionally, the year 2024 marks a significant increase in cyber attack activities, particularly targeting the cryptocurrency industry and altcoins. Serious incidents such as attacks on the workstations of U.S. Treasury employees have forced organizations to prioritize cybersecurity. Although the Chinese government denies involvement in this incident, the fact remains that the organizations involved must mobilize all necessary security measures.
However, not everything is pessimistic. Some analysts remain optimistic about Bitcoin's future, believing that if the U.S. economy avoids a severe recession, the currency could continue to assert its strong position.
While 2024 has concluded with many challenges, it has also opened up significant opportunities for investors and businesses that are embracing advancements in blockchain technology. Innovation and sustainable development will continue to be core factors shaping the cryptocurrency landscape in the near future. Let's wait to see what amazing things will come to this field in 2025.